EU carbon fell 9 percent to an all-time low of 7.68 euros on Thursday on eroding faith in Europe’s economy, growing permit supply and a bout of automatic selling. EU Allowances for December delivery rose to 8.59 euros this morning before crashing down to the intraday bottom shortly before the Netherlands announced it had auctioned 2 million permits at 8.05 euros, further stoking the already oversupplied market.
The bellwether futures recovered somewhat in afternoon trade, climbing back to 7.87 euros by 1616 GMT, 57 cents below Wednesday’s settlement.............................................Full Article: Source